Bitcoin Surges to $97,858: Polymarket Predicts 72% Chance of $100K by November

Bitcoin has just hit a record-breaking all-time high (ATH) of $97,858, with its market cap surging to $1.91 trillion a 4.74% increase in just hours! Meanwhile, trading volume has also spiked by 17.88%, reaching $88.38 billion in the last 24 hours. Polymarket, a prominent prediction platform now predicts a 72% chance Bitcoin will hit $100,000 by year-end. Here's what’s fueling this excitement!

Bitcoin To Hit $100K in November

The chances of Bitcoin (BTC) hitting $95,000 in November have already surpassed 100%, reflecting the growing confidence in the market. Current trends suggest Bitcoin could even climb to $98,582 by the end of this week, aligning with bullish price predictions.

Polymarket now estimates a 72% probability that Bitcoin will reach $100k this month. Additionally, bettors on the platform see a 34% chance of BTC hitting $105,000 in November. 

This optimistic outlook follows Bitcoin’s new all-time high and a surge in its market cap, now standing at an impressive $1.91 trillion. At this rate of growth, BTC might even overtake Amazon’s market cap of $2.151 trillion, becoming the sixth most valuable asset globally. 

Why the $100K Prediction Holds Weight

The prediction of Bitcoin hitting $100K is not just speculation; it’s supported by several strong factors driving its growth.

1. New All-Time Highs

Bitcoin’s recent surge to $97,858 levels has created strong momentum. Meanwhile, this surge has set an optimistic tone.

2. Growing Institutional Interest 

Big names like BlackRock and Fidelity are heavily backing Bitcoin through ETFs and related products. This growing support from institutions has boosted Bitcoin’s credibility and demand.

3. Scarcity and Rising Demand

With its fixed supply, Bitcoin has become the go-to “digital gold” for investors looking to protect their wealth against inflation and economic uncertainty.

These factors create a perfect storm for Bitcoin, with market conditions aligning to push its value toward the much-anticipated $100K milestone.

Will Bitcoin Hit $99K Soon?

Another prediction market Kalshi's predictions about Bitcoin’s performance this year. According to the platform, 51% expect BTC to cross $98K, while 57% believe it will go beyond $100K. Interestingly, half of the users are confident that Bitcoin will hit $122K by the end of this year.